Seeing your benchmarks for sure helps me learn what to look for and be aware of when evaluating deals!

Since I am unaware of a reliable way to search for prior year BOMs, we'll have to wait and see what the weekly benchmark should be.

Usually this tied to either prime or fed rate or someother benchmark and WILL fluctuate as that benchmark changes.

how do we spot the market that still has the potential to grow in this market are there any benchmark or formula to evaluate?

(Consumer-facing mortgage rates have been trending down for a month, in anticipation of this)- There's substantial lag time between when the Fed changes that benchmark rate, and the effects are fully felt in the economy in a way that shows up in the numbers he and his pals look at.

How could we know if this broker won't try to sell us more expensive deals after seeing the proof of funds while we have no benchmark to compare with?

Even with stagnant rates and duplexes in the $300k range, you can easily achieve $1,600+ for a 2 BR, giving you well over the 1% benchmark.

I appreciate your sentiments on 5% serving as a bit of a personal benchmark for what's currently acceptable.

Con - I would never need this as an investor since I do deals based on financial performance and / or comparable sales, then work my way backwards to an offer price.Pro - a (used) mobile home dealer can use NADA as a benchmark for credibility establishing home prices.I guess the pros and cons will depend on what you plan to do with it.

From there, we can use the benchmarks in my previous post to ensure the area fits our needs.